Watching TV, reading online and it’s hard not to be terrified and/or depressed with the news reports on the global economy.

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There is no doubt that we are facing serious economic hardships worldwide, However the most frustrating part of this for me has been the high amount of people assuming that the real estate market in Costa Rica is identical to the U.S.

Have real estate sales in Costa Rica slowed down? Absolutely!

Are properties being reduced by 40-50% like in the U.S? Absolutely not!

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The problem with the U.S. housing market stems from Wall Street and the banks. Because our market has always been and continues to be primarily a cash market we simply do not have banks who own properties and very few owners who saddled with unmanageable mortgage payments. And since the property taxes are so low here, we don’t even have property owners struggling to pay their taxes.

 

Yes! Some people are selling, and you can find some properties at reduced prices, specifically the ones without ocean view and or beach access, but it is important to understand that beachfront property in Costa Rica is extremely limited and most cash buyers (unless they have financial difficulties back home) are pretty much indifferent to whether they sell tomorrow or two years from now. They simply are not willing to drop their prices to less than what they paid for them.

Don’t get me wrong! It is a buyer’s market right now and an incredible time for those wanting to own a piece of paradise and maybe even find a deal at 10-20% below value.

But for those who are looking to buy at 40, 50 cents on the dollar, you might want to check out Florida and California, I hear there are some great deals there, in the meantime I’ll enjoy living in Costa Rica!

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Costa Rica Recommended Realtors in Jaco Shawn Fletcher and his wife Hannah Fletcher.
 

Affordable Oceanfront Condos For Sale in JacoA fun beach town for all the family.

 

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